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Hong Kong Shares Have A Green Light For Wednesday's Trade

The Hong Kong stock market has finished higher in three straight sessions, collecting almost 730 points or 2.6 percent along the way. The Hang Seng Index now rests just above the 28,275-point plateau and it may extend its gains again on Wednesday.

The global forecast for the Asian markets is mixed to higher on the back of strong crude oil gains. The European markets were down and the U.S. bourses were up and the Asian markets are tipped to follow the latter lead.

The Hang Seng finished sharply higher on Tuesday following gains from the insurance stocks, financials and oil companies - while the casinos were soft.

For the day, the index surged 368.53 points or 1.32 percent to finish at the daily high of 28,276.75 after moving as low as 27,781.42.

Among the actives, China Life Insurance skyrocketed 6.93 percent, while Ping An Insurance surged 5.95 percent, Xiaomi Corporation soared 4.37 percent, AIA Group spiked 4.20 percent, ANTA Sports accelerated 2.57 percent, Meituan plummeted 2.45 percent, CITIC rallied 2.05 percent, Industrial and Commercial Bank of China collected 2.00 percent, CNOOC jumped 1.96 percent, Galaxy Entertainment tanked 1.74 percent, Techtronic Industries climbed 1.72 percent, CSPC Pharmaceutical gathered 1.49 percent, WuXi Biologics perked 1.44 percent, China Petroleum and Chemical (Sinopec) advanced 1.34 percent, AAC technologies tumbled 1.10 percent, Sands China skidded 0.94 percent, BOC Hong Kong sank 0.80 percent, Hong Kong & China Gas dropped 0.52 percent, Alibaba shed 0.45 percent, New World Development added 0.41 percent, Power Assets lost 0.36 percent, China Resources Land fell 0.16 percent and China Mengniu Dairy rose 0.10 percent.

The lead from Wall Street is cautiously optimistic as stocks bounced back and forth across the unchanged line on Tuesday, finally settling with modest gains.

The Dow added 60.00 points or 0.19 percent to finish at 31,068.69, while the NASDAQ gained 36.00 points or 0.28 percent to end at 13.072.43 and the S&P 500 rose 1.58 points or 0.04 percent to close at 3,801.19.

Political concerns, rising coronavirus cases and uncertainty about near term trend for the market after an historic climb weighed on stocks.

Amid FBI warning about possible armed protests across the United States in the days leading up to President-elect Joe Biden's inauguration, a state of emergency has been declared in the District of Columbia.

Optimism about further economic stimulus in the U.S. and the rollout of coronavirus vaccines helped to nudge the markets higher. Investors are also looking ahead to quarterly earnings results.

Crude oil prices moved higher Tuesday, boosted by a weak dollar and Saudi Arabia's decision to cut production in the next two months. West Texas Intermediate Crude oil futures for February ended up $0.96 or 1.8 percent at $53.21 a barrel.

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